Bibit, a robo-advisor app that wants to make investing more accessible in Indonesia, has raised $30 million from Sequoia Capital India. Returning investors East Ventures, EV Growth, AC Ventures and 500 Startups also participated.

Part of Stockbit  Group, about 90% of Bibit’s  users are millennials and first-time investors. Like other robo-advisors, the aim of Bibit is to make it easier to create a portfolio tailored to each person’s risk profile and investment goals. Other investment apps in Indonesia tapping into growing demand for retail investment producgts include Bareksa and SoftBank Ventures-backed Ajaib.

Bibit claims that over the past year, it has registered more than one million first-time investors. As an example of market potential, the company cites data from the Indonesian Stock Exchange and Indonesia Central Securities Depository that showed the number of retail investors in the country grew 56% year-over-year in 2020, with about 92% of new investors aged between 21 to 40. But only about 2% of Indonesians have participated in the stock market.

Bibit chief executive officer Sigit Kouwagam told TechCrunch that most Indonesians invest their money in term deposit bank accounts or leave it in low-yield checking accounts.

“Traditionally, they also invest real estate or physical godl bars,” he added, but millennial and Gen Z investors are shifting toward “higher-yielding liquid investments that are also convenient to manage and can be started with a lower ticket size.”

The pandemic has also prompted more users build an emergency fund, with more Indonesians looking at the capital market for higher-yielding assets as an alternative to low-interest bank accounts.

RELATED ARTICLESMORE FROM AUTHOR

42 COMMENTS

  2. … [Trackback]

    […] Info to that Topic: blackzine.co.za/2021/01/16/indonesian-robo-advisor-app-bibit-raises-30-million-led-by-sequoia-capital-india/ […]

  3. На сайте https://feringer.shop вы сможете заказать печи для бань, саун и другую качественную продукцию. Все конструкции поставляются напрямую от завода FERINGER и по доступной цене. Облицовка всех конструкций произведена из натурального камня самых разных пород, а потому конструкции выглядят невероятно презентабельно и органично. Компания регулярно расширяет ассортимент с учетом требований, пожеланий заказчиков. С каждым годом их становится все больше. Специалисты дадут консультации, помогут с выбором и выполнят замеры.

  6. … [Trackback]

    […] Info to that Topic: blackzine.co.za/2021/01/16/indonesian-robo-advisor-app-bibit-raises-30-million-led-by-sequoia-capital-india/ […]

  14. … [Trackback]

    […] There you can find 25845 more Information on that Topic: blackzine.co.za/2021/01/16/indonesian-robo-advisor-app-bibit-raises-30-million-led-by-sequoia-capital-india/ […]

  19. … [Trackback]

    […] Here you can find 39400 more Information on that Topic: blackzine.co.za/2021/01/16/indonesian-robo-advisor-app-bibit-raises-30-million-led-by-sequoia-capital-india/ […]

  21. I am now not positive the place you’re getting your info, however
    great topic. I must spend some time finding out more or working out more.
    Thank you for great info I was on the lookout for this information for my mission.
    I saw similar here: Ecommerce

  26. … [Trackback]

    […] Read More to that Topic: blackzine.co.za/2021/01/16/indonesian-robo-advisor-app-bibit-raises-30-million-led-by-sequoia-capital-india/ […]

  27. … [Trackback]

    […] There you will find 61009 more Information to that Topic: blackzine.co.za/2021/01/16/indonesian-robo-advisor-app-bibit-raises-30-million-led-by-sequoia-capital-india/ […]

  28. … [Trackback]

    […] There you will find 53503 additional Info on that Topic: blackzine.co.za/2021/01/16/indonesian-robo-advisor-app-bibit-raises-30-million-led-by-sequoia-capital-india/ […]

  36. **herpafend reviews**

    Herpafend is a natural wellness formula developed for individuals experiencing symptoms related to the herpes simplex virus. It is designed to help reduce the intensity and frequency of flare-ups while supporting the bodys immune defenses.

  37. **prodentim**

    ProDentim is a distinctive oral-care formula that pairs targeted probiotics with plant-based ingredients to encourage strong teeth, comfortable gums, and reliably fresh breath

  38. **mounja boost**

    MounjaBoost is a next-generation, plant-based supplement created to support metabolic activity, encourage natural fat utilization, and elevate daily energywithout extreme dieting or exhausting workout routines.

  39. **aquasculpt**

    aquasculpt is a premium metabolism-support supplement thoughtfully developed to help promote efficient fat utilization and steadier daily energy.

  42. **backbiome**

    Mitolyn is a carefully developed, plant-based formula created to help support metabolic efficiency and encourage healthy, lasting weight management.

LEAVE A REPLY

Please enter your comment!
Please enter your name here